|Market Close||Market Close|
|Gas prices displayed gains yesterday despite a bearish opening to the session. Support was provided by a stronger overall energy complex, with oil, carbon, coal and power all moving higher. Upward movement at the front of the curve was slightly restricted by a milder weather outlook which should result in weaker demand.||An expected rise in temperatures and renewable power availability helped to cap upward movement at the front of the power curve yesterday. However, contracts followed other energy markets and moved higher, with additional support provided by a weaker Pound.|
|Market Open||Market Open|
|Gas prices are almost unchanged this morning with little direction provided by coal and oil markets. Meanwhile, the system is balanced and the short term weather forecast points to warmer temperatures and improved wind levels which has provided some downward pressure at the front of the curve.||Coal, oil and gas markets have stabilised this morning, with only carbon showing a loss and movement across the power curve is minimal as a result. Fundamentals are also unchanged with demand levels expected to weaken over the weekend and next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to $68.5/b following the release of the latest EIA report and supportive comments from the Federal Reserve, adding to the already bullish sentiment on oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 45.04ppt and £49.60/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.